Market Overview

UPDATE: Bank of America Upgrades Flextronics International to Buy

Share:
Related FLEX
Despite Selloff, Argus Calls Flextronics A Buy On Improving Product Mix
15 Stocks Moving In Friday's Pre-Market Session
Tracking Larry Robbins' Glenview Capital Management Portfolio - Q2 2016 Update (Seeking Alpha)

According to a research report this morning, Bank of America upgrades its rating on Flextronics International (NASDAQ: FLEX) from Neutral to Buy as the supply-chain company appears to be well positioned to drive high normalized margins.

Bank of America stated, “After management's presentation at our tech conference in San Francisco, we came away more convinced that FLEX is well positioned to drive higher normalized margins with the optionality of incremental benefit from vertically integrated components. Drivers of the higher margins include: 1) structural mix shift away from High Velocity (divested PC ODM business and lower RIMM revs), 2) completion of restructuring that is masking margin improvement and, 3) higher rev in 2H12 that should drive leverage in components.”

Flextronics closed yesterday at $6.59 with a PO increase from $7.50 to $8.50.

Latest Ratings for FLEX

DateFirmActionFromTo
May 2016Standpoint ResearchDowngradesBuyHold
May 2016Bank of AmericaReinstatesBuy
Apr 2016CitigroupMaintainsBuy

View More Analyst Ratings for FLEX
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Reiteration Analyst Ratings

 

Related Articles (FLEX)

View Comments and Join the Discussion!